Chhattisgarh Cgbse Class 12 Accountancy — Real Previous-Year Papers

A company purchased assets worth ₹ 1,90,000 from A Limited and made the payment by issuing 12% debentures of ₹ 100 each at a discount of 5%. What will be the amount of discount?

What ability is required for the person to become a partner in a partnership firm (any three)?

Differentiate between share and stock (any three).

A company issued 20000 equity shares of ₹ 10 each. All amounts have been received in lump-sum. Pass the necessary Journal Entries in the books of the company.

Ranjana purchased a machinery worth ₹ 11,000 from Y Limited. It was agreed that purchase consideration to be paid by issuing 12% debentures of ₹ 100 each at 10% premium. Pass Journal Entries in the books of the company.

A firm's average net profit is ₹ 68,000 per year. Capital employed is ₹ 3,50,000. Rate of return on capital employed is 12%. Remuneration estimated for the partners is ₹ 8,000 for the year. Calculate the value of goodwill on the basis of two years' purchase of super profit.

Ravi and Swami are partners in a firm, sharing profit and loss in the ratio of 3:2. They admitted Lavi for ⅛th share in profit. The new profit sharing ratio among Ravi and Swami is 4:3. Calculate new profit sharing ratio.

A, B and C are partners sharing profit and loss in the ratio of ½ : ⅓ : ⅙. Goodwill Account is shown in the books of the firm ₹ 36,000. B retires on that date. On B's retirement goodwill is valued at ₹ 60,000. A and C decided to share future profit of the firm in the ratio of 3:2. Pass necessary Journal Entry.

X, Y and Z are equal partners in a firm. Y died on 31st December, 2019. On that date the amount payable to him was ₹ 20,000. It was decided that this amount should be paid in annual installments of ₹ 5,000 each. The first installment was paid on 1-1-2020. The other installments were also paid on 1st January every year. On 2nd January, 2022 his nominee was died. Annual interest allowed @ 6% will be paid every year on balance amount. Prepare Annuity Suspense Account.

A, B and C are partners of a firm, sharing profit and loss in the ratio of 2:2:1. Their Balance Sheet on 31st December, 2018 stood as under : Balance Sheet (As at 31-12-2018) Liabilities | Amount (₹) | Assets | Amount (₹) Creditors | 24,000 | Cash | 12,000 General Reserve | 10,000 | Debtors 16,000 (-) Reserve 500 | 15,500 Capital- A 30,000; B 24,000; C 12,000 | 66,000 | Stock | 15,000 | | Furniture | 19,000 | | Building | 38,500 Total | 1,00,000 | Total | 1,00,000 On that date they decided to dissolve the partnership. The assets are realized as : Debtors ₹ 14,700; Stock ₹ 14,000; Furniture ₹ 18,000; Building ₹ 41,500; Creditors were paid ₹ 23,000 in full settlement. Dissolution expenses amounted to ₹ 1,000. Prepare Realization Account.

A and B share profit and loss in partnership in the ratio of 2:1. They agree to dissolve the firm. ₹ 75,000 was recovered from the properties. The liabilities of the firm are as follows : Creditors ₹ 45,000, A's Loan ₹ 20,000, A's Capital ₹ 10,000, B's Capital ₹ 15,000. Prepare Realization Account.

A company issued prospectus inviting application for 1000 shares of ₹ 10 each, payable as follows : ₹ 2 on application, ₹ 3 on allotment and ₹ 5 on first and final call. Applications for all these shares were received. Pass Journal Entries assuming that all amounts due have been received.

A company issued 12000 shares of ₹ 10 each. The amount payable ₹ 2 on application, ₹ 4 on allotment and ₹ 4 on first and final call. All amount have been fully received. Pass the necessary Journal Entries in the books of the company.

A, B and C are partners in a firm in the ratio of 3:2:1. Their Balance Sheet on 31-12-2020 is as follows : Liabilities | Amount (₹) | Assets | Amount (₹) Capital- A 20,000; B 20,000; C 20,000 | 60,000 | Cash | 3,200 Creditors | 3,200 | Machine | 12,000 General Reserve | 12,000 | Debtor | 18,000 | | Building | 28,000 | | Stock | 14,000 Total | 75,200 | Total | 75,200 C retired on that date and the following adjustments were to be made : (i) A reserve of 2.5% is to be made for doubtful debts, (ii) Stock is to be depreciated by 2.5% and machinery by 5% and (iii) The building is to be valued at ₹ 29,100. Prepare Revaluation Account and Capital Account.

X, Y and Z are partners in a firm sharing profit and loss in the ratio of ½ : ⅓ : ⅙ respectively. On 31st December, 2016, their Balance Sheet was as follows : Liabilities | Amount (₹) | Assets | Amount (₹) Creditors | 8,000 | Cash | 15,600 Bank overdraft | 3,600 | Sundry debtors | 13,000 General Reserve | 12,000 | Stock | 17,000 Capital- A 20,000; B 10,000; C 10,000 | 40,000 | Machinery | 3,000 | | Furniture | 3,500 | | Building | 11,500 Total | 63,600 | Total | 63,600 Z retires on that date and the following adjustments were decided : Increase the value of stock by 10%. Depreciate machinery by 5%. Create doubtful debts reserve at 5% on debtors. The value of goodwill is ₹ 12,000. Prepare Revaluation Account and Capital Account of partners on 31st December, 2016.

Vivek, Shambhu and Ranjana are partners in the ratio of 3:2:1. On 31st December, 2024, they decided to dissolve the partnership firm. On that date their Balance Sheet was as follows : Balance Sheet (As at 31-12-2024) Liabilities | Amount (₹) | Assets | Amount (₹) Creditors | 88,000 | Machinery | 1,00,000 Capital- Vivek 1,00,000; Shambhu 10,000; Ranjana 72,000 | 1,82,000 | Stock | 60,000 | | Debtors | 78,000 | | Cash at Bank | 32,000 Total | 2,70,000 | Total | 2,70,000 Vivek agrees to take over the machinery for ₹ 80,000. ₹ 63,000 from debtors and ₹ 46,000 from stock were realized. Creditors were made satisfied by paying ₹ 84,000 and ₹ 3,000 spent on dissolution. Prepare Realization Account and Partners' Capital Account.

Ram and Shyam are partners in a firm sharing profit and loss in the ratio of their capitals. On 31st December, 2006 their Balance Sheet was as follows : Liabilities | Amount (₹) | Assets | Amount (₹) Creditors | 6,000 | Cash | 1,000 Loan of Ram | 8,000 | Debtors | 5,000 Capital- Ram 20,000; Shyam 10,000 | 30,000 | Stock | 20,000 | | Plant | 14,000 | | Goodwill | 4,000 Total | 44,000 | Total | 44,000 Both partners decided to dissolve the firm. ₹ 4,200 was realized from debtors, ₹ 18,000 realized from stock, 20% less value was realized from the plant, ₹ 6,000 was realized from goodwill. Creditors were paid at 5% discount and the cost of dissolution expenses was ₹ 600. Prepare Realization Account and Partners' Capital Account.

A limited company issued 4000, 6% debentures of ₹ 100 each at 10% discount payable as follows : ₹ 10 on application, ₹ 30 on allotment, ₹ 40 on first call and ₹ 20 on second call. Pass necessary entries in company's journal assuming that all money were duly received.

Jyoti Limited issued 4000, 10% debentures of ₹ 100 each at 5% premium, payable as follows : ₹ 20 on application, ₹ 30 on allotment (with premium), ₹ 35 on first call and ₹ 20 on second and final call. All amounts were duly received. Pass the necessary Journal Entries.

The format of the Balance Sheet is : (a) Horizontal (b) Vertical (c) Horizontal or Vertical (d) Horizontal and Vertical

Liquid or quick assets = (a) Current Assets – Prepaid Expenses (b) Current Assets – Stock – Prepaid Expenses (c) Current Assets + Stock – Prepaid Expenses (d) Current Assets – Stock + Prepaid Expenses

Hari Company earned a profit of ₹ 50,000 in the year ending 31-03-2018. Based on the following information make a cash flow statement from the operations : Particulars | 31-03-2017 (₹) | 31-03-2018 (₹) Stock | 14,000 | 12,000 Trade receivable | 40,000 | 50,000 Prepaid rent | 2,000 | 3,000 Trade payable | 30,000 | 35,000 Outstanding expenses | 4,000 | 3,000

From the following information, calculate cash flow from operating activities : Particulars | Year 2022 (₹) | Year 2021 (₹) Debtors | 14,000 | 11,000 Outstanding expenses | 3,000 | 1,000 Prepaid expenses | 2,000 | 2,500 Creditors | 14,000 | 16,000 Profit during the year 2017 is ₹ 25,000.

Find out current ratio from the following informations : (i) Trade payable ₹ 20,000 (ii) Working capital ₹ 3,60,000 (iii) Current liabilities ₹ 1,20,000

Calculate the liquid ratio from the following informations : Current liabilities ₹ 1,40,000; Working capital ₹ 1,80,000; Creditors ₹ 3,000; Stock ₹ 1,10,000.

Differentiate between Cash flow statement and Cash budget (any four).

Distinguish between cash flow statement and Fund flow statement (any four).

Describe the limitations of financial statement.

Describe the features of financial statement.